Shares of RPP Infra Projects Ltd. soared by as much as 11% on Tuesday following the announcement of new order wins totalling ₹310 crore.
The company received a Letter of Acceptance for the construction of a new district jail in Hapur, Uttar Pradesh, under an Engineering, Procurement, and Construction (EPC) model. This project is valued at ₹158.82 crore, inclusive of GST, and will have a capacity to accommodate 1,026 inmates, according to the company’s exchange filing.
In addition to the Hapur project, RPP Infra Projects secured another contract for constructing a new district jail in Jaunpur, Uttar Pradesh, also under the EPC model. This contract is worth ₹152.11 crore. Both projects are scheduled for completion over an 18-month period.
As of June 30, 2024, RPP Infra Projects’ total order book stands at ₹3,200 crore.
Following the news, shares of RPP Infra Projects are trading 11% higher at ₹159.25, bringing the company’s market capitalization to over ₹600 crore. The stock has increased by just over 30% in 2024, including today’s surge, and has more than doubled in value over the past 12 months, rising 165%.
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